Damon Hill is to step down as president of the British Racing Drivers' Club in August after five years in office.

Former Formula One world champion Hill has played a pivotal role in overseeing one of the most successful periods in the BRDC's history since his appointment.

During his tenure, Hill has seen Silverstone secure a 17-year deal to host F1, as well as the rights to stage the British rounds of the Superbike World Championship and Moto GP.

Silverstone has also undergone significant revisions, which have included a revised circuit lay-out and the opening last month of a new £27million pit and paddock complex.

Hill said today: "As a club and business we can be immensely proud of everything we have achieved for British motorsport. The BRDC and Silverstone face a stable and exciting future, so the timing is right for me to hand over the reins."